Flanders, who has been with the BBC for 11 years and was previously economics editor on BBC2's Newsnight, will be chief market strategist for the UK and Europe at JP Morgan Asset Management.

Flanders said: "In my new job, I'll have more time and resources for research and I'll get a deeper understanding of the markets, from inside one of the world's most experienced financial institutions.

"I'll also be helping to grow a business. That's something I've never done before. Having spent all of my working life as an economist, talking about the market economy – this feels like the right time to give it a try."

James Harding, the BBC's director of news and current affairs, said Flanders had "given our audience unrivalled coverage of the economy – the most important story in Britain over the past few years.

"She has done it with intelligence, understanding and good judgement. For the past 11 years she has been an exceptional journalist and broadcaster and she'll be sorely missed. We all wish her every success in the future."

Flanders will step down from her economics reporting role immediately, but will continue to present Radio 4's Start the Week and will finish filming an upcoming documentary. She will begin her new job in November.

Robert Peston, BBC business editor, added: "Stephanie has been the outstanding economics broadcaster of the last few years.

"She has made an enormous contribution to the BBC, because of the authority and clarity of her journalism. We all wish her well in her new and challenging role, but I will feel the loss of an always stimulating and supportive colleague".

• To contact the MediaGuardian news desk email media@theguardian.com or phone 020 3353 3857. For all other inquiries please call the main Guardian switchboard on 020 3353 2000. If you are writing a comment for publication, please mark clearly "for publication".

• To get the latest media news to your desktop or mobile, follow MediaGuardian on Twitter and Facebook.